You may not have noticed that on November the 7th, a tiny piece of blockchain history was written. Read below to learn all about it.
Along with many others in the blockchain field, Jur is trying to create a product that works according to principles driven by decentralization. Jur’s struggles aren’t different from others in the industry: we are trying to deliver a truly unique product, without any blueprint to follow, in our attempt to change the very foundations of commercial justice.
So it is with immense proudness that we can say: On November the 7th, 2019, we have taken a small step towards a world where people are more free in conducting and regulating their own business, separate from central authorities.
With no further ado, let’s introduce the Jur Defender Story.
Phase 1 — getting ready for the record
How long did it take to design and build a platform on the blockchain, able to create contracts between parties for any kind of commercial agreement? Jur started its activities around 2 years ago, and this summer (August 2019) the Jur Beta Platform was launched. After the JUR token was also released, the Jur community started to grow and one day, Stefan, from the official Telegram channel (https://t.me/jurcommunity), reached out to us.
Stefan, in his efforts to be one of the original users on the platform, got in contact with Chris, our community manager — sharing how he’d like to exchange the title of a Land Rover Defender for a total value of 10,000 USD dollars in JUR tokens.
Our team was enthusiastic. We had expected community demand and curiosity towards the platform, but the peculiar custom nature of the vehicle really struck a chord with us — This was not just some random ageing vehicle — it was a timeless Land Rover Defender that had been upgraded and customized to become a mobile, livable, adventure car. As a project trying to add customization and upgrades to a classic legal system, the match was too perfect.
We were hooked.
Phase 2 — Testnet Procedure
On November 5th, we decided to execute the entire operation for the selling of the Land Rover on testnet. Just like the buildup to an Apollo moon launch, we were confident — but not overconfident — that after months of careful design and preparation, the platform should work as intended.
Read more: https://medium.com/jur-io/test-are-you-ready-to-see-the-jur-defender-3a9044f1e2d9
Luca Daniel, Jur’s CTO, was prepared for the worst of possible coding nightmares, but luckily everything worked somewhat to plan. After 2 hrs, we had closed the procedure.
Phase 3 — Mainnet Procedure
It’s about 7 PM CET (Central Europe Time). All our cameras are on, grasping the unrelaxed faces of Stefan, Daniela and all the Jur team (CEO Alessandro, CTO Luca, CLO Raffaele, CMO Federico and Legal Engineer Luigi).
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You can feel the tense atmosphere as everyone was anxious to get the process going. Our participants had dressed up a bit, with Daniela’s freshly curled hair and Luigi’s regular lawyer attire. You’ve got to dress properly if you’re on a mission to complete the ‘first ever’ event, don’t you?
‘How’s it going guys?’ — we ask,
‘A bit nervous’ — replies Stefan.
Ready for the countdown to start? Let’s go
Daniela confidently takes control. After filling in all the details to set up the framework of the smart contract, the platform notifies Stefan that he has a pending contract in his dashboard. He verifies the information and confirms the offer.
Now, this is where the brilliance of smart contracts takes over. Daniela’s funds will be locked in an escrow until the terms and conditions are met. If either are unsatisfied with the results, they can initiate a dispute, where decentralized voters are encouraged to decide the outcome of the dispute. This protects both the buyer and seller, making the Jur Platform a place that encourages commerce and the exchange of goods and services.
Fortunately for our story, the two parties had agreed on the conditions and everyone acted professionally. No arguments, no fighting, and no need for decentralized dispute resolution.
But there was still some uncertainty. Would the smart contract unlock properly, and release the tokens at the conclusion of the transaction? Watch the video for that historic moment:
Everything had gone through without a hitch. Smiles all around, and an excited but perhaps a little relieved celebration from the CEO. Daniela, Stefan, and the Jur team had pulled it off — 10,000 USD worth of JUR locked in an escrow on the blockchain under the terms of a vehicle sale, then automatically unlocked and distributed per contract conditions.
Checkfacts:
- Daniela placed $10,000 USD in JUR tokens into a DIY smart contract between her and Stefan.
- Stefan accepted. He then uploaded proof he had transferred the title of the vehicle to her name (In this case, a photo of the proper documents) and confirmed the completion of his action.
- Daniela confirmed the action was completed per contract requirements, and released the escrowed funds to her counterparty (Stefan).
- Stefan withdrew the funds from the smart contract to his personal blockchain wallet.
Final — Turn The Engines On!
After such intense happening, the Jur Defender was finally put to sleep during the Austrian winter, and it will be wake up on the Easter season to take the road towards Portugal.
Let’s recap.
Why is it that the entire blockchain community should learn about what happened on the Jur Beta Platform?
Well, because it is the first time that a DIY contract is being executed on the blockchain to sell a car between two private parties.
A smart contract is a blockchain script that automates the transfer of digital currencies or assets between parties under certain conditions. They work great for escrows, fundraising, games, and other decentralized applications that don’t need a middleman.
Jur takes this smart contract technology and makes them smart legalcontracts. Basically, the smart contracts are able to automate, verify, or enforce the negotiation or performance of a contract.
Thanks to that, Daniela was able to create the DIY legal contract terms on her own, without any coding background, and upload it to the blockchain is quite remarkable. For centuries, people have used paper-based contracts, which completely breaks down when one person doesn’t hold up their end of the bargain, or one party refuses to pay.
Are you really going to take someone to court and pay sky-high legal fees over a minor dispute?
Jur has managed to change the game by building an automated DIY smart legal contract platform. What makes this even more valuable is the built-in Open Layer, a dispute resolution platform that can solve disputes between counter-parties in a decentralized, fast, and practically free manner.
Before we go too far down this road, let’s refer you to a more comprehensive guide for further reading: https://medium.com/jur-io/jur-open-layer-dispute-resolution-on-the-blockchain-df2df64e5ad6
Next steps you can do now:
- Start creating smart legal contracts on the Jur Beta Platform.
- Keep an eye on the development of the Jur Beta Platform (subscribe to the newsletter below)
- Watch the entire process again on YouTube.
- Share the voice: the world deserves to know what is going on!
We are developing the first multi-jurisdiction online dispute resolution platform, the Open Justice Platform. Learn more.
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Easy Online Justice
World Wide
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